Shane Warne's defunct charity has been cleared of any financial misconduct by Australia's charity regulators following inconsistencies with their reporting.

The Australian Charities and Non-profit Commission and Consumer Affairs Victoria have looked into The Shane Warne Foundation's paperwork following allegations the foundation only donated 16 cents for every dollar raised.

The separate investigations conducted by the CAV and the ACNC have not found any evidence of material infringements, the Herald Sun reported.

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Shane Warne's namesake foundation has been cleared of any financial misconduct following investigations by the Australian Charities and Non-profit Commission and Consumer Affairs Victoria

The investigations by the ACNC and CAV probed into allegations the foundation only donated 16 cents for every dollar raised

While the ACNC have decided on a no compliance action, the CAV is still finalising their investigation.

The charity officially closed its doors in March 2016 following their growing financial issues and the media scrutiny.